Home NewsBusiness LBDI President backs printing of new Liberian Banknotes

LBDI President backs printing of new Liberian Banknotes

by Maximilian K. Kasseh jr

MONROVIA, LIBERIA-The President of the Liberia Bank for Development and Investment (LBDI) has backed calls for the printing of new Liberian banknotes.

Mr. John Davies said:” The banking populace has lost confidence in the banking system, resulting to money being kept outside of the banks.”

Mr. Davies said the current Liberian banknotes are mutilated and needs to be replaced.

He commended the stakeholders in the banking sector for their support to financial institutions during the challenges posed by the COVID-19 pandemic.

Meanwhile, the LBDI President also wants stakeholders in the sector work collectively to ensure challenges being faced in the sector are minimized.

He named consumers spending, mortgages, access to financing and the creation of space, where small scale entrepreneurs can receive financing.

By: Steven Dorbor

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